Crackwell St, Tenby

Offers in the region of £500,000


  • Panoramic Views Of Tenby Harbour
  • Fully Fitted Restaurant
  • Centre Of Family Holiday Resort
  • For Sale (Might Let)

With panoramic views over its iconic harbour, a well established restaurant located in the centre of the West Wales holiday resort of Tenby. Entrance is on Crackwell Street and at street level is the restaurant area with 27 covers and the balcony with views of the harbour and a further 18 covers. There is also a bar currently serving soft drinks. At basement level is seating, also with harbour views, providing a further 28 covers.

Location
Tenby is situated on Pembrokeshire's South Coast within the Pembrokeshire Coast National Park. It has been a holiday destination, primarily for families, for many generations, largely as a result of its large sandy beaches with harbour often used in promotional photographs of Wales. The Bay Of Bengal is located in the centre of the town in an elevated position so that both floors look out over the harbour and North and Harbour beaches. Its central location means that there is a high volume of trade throughout the day, especially in the summer months as well as evenings with the premises being popular with local residents throughout the year as well as holiday makers especially during school holiday times. In recent years Tenby has been the focus of endurance events such as Iron Man and the Long Course weekend adding to the times the town is full of visitors.

Accommodation
The level directly of Crackwell street extends to approximately 400 sq ft (37.26 sq m) and accommodates 27 covers. In addition to the 18 covers on the balcony. The basement level has a seating area of approximately 257 sq ft (23.94 sq m) which accommodates its 28 covers along with WC and kitchen facilities.

Tenure
For sale freehold with vacant possession of the restaurant and subject to the long leasehold interest of the flat on upper floors at nominal rent.
Our clients are also happy to consider letting the premises on a new lease for a term to be agreed on an internal repairing basis with the tenant being responsible for the payment of local authority rates, utility costs and contributing towards the insurance premium for the building along with other usual tenant outgoings.

Price
Offers in the region of £500,000

Fixtures And Fittings
The sale is on the basis that it includes all current fixtures and fittings at the premises along with all furniture, kitchen equipment etc.

Opening Hours
Our clients confirm that the current opening hours are 5:30pm - 10:30pm, 7 days a week with the restaurant largely being closed from October - March each year with limited weekend evening opening. There is therefore plenty of scope for a new occupier to increase turnover by adding to the opening hours including Sunday lunch and opening on additional days for further months of the year, especially around holiday times.

Licence
The premises do not currently have an alcohol license meaning that there is the opportunity for a new occupier to apply for a license and, if granted, increase turnover.

Rates
According to the gov.uk website the ratable value of the premises is £12,000 which would make the rates payable for the whole of the 2018/2019 financial year approximately £6,168.

Availability
Immediately upon completion of legal formalities.

Viewings
Please contact David Cochlin in our Commercial Department on 01834 861810 or via email on dc@johnfrancis.co.uk.

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